At the end of each year, we take the opportunity to reflect on the past 12 months. 2018 was exceptional for our team. We had a great year, fantastic clients (old and new), continued to grow our team with quality (and talented) people, and we traveled. Boy, did we travel. Travel has long been a part … Continue reading Happy Holidays from The Coppola-Cheney Group
Exposed ceilings are all the rage, but users pay a price for this look. Most of our clients think it’s less expensive to just demo the ceiling and have a cool open space. Not so fast. Here are some of the additional costs that come with an exposed ceiling: – Re-running electrical cabling and HVAC … Continue reading Exposed Ceilings Are Cool But Not Cheap
Apple moved into their spaceship this year. I wrote about it while under construction and now you have probably have seen finished photos all over. If not, here are some.But today’s narrative is not about this inspired headquarters. Today, I want to talk about Pixar’s headquarters built in the late 1990’s. The standards of creative office (and … Continue reading The Legacy of Steve Jobs and Office Space
Below is my quarterly take on the Metro Phoenix office market. Readers of this narrative know that I am an office broker who works every day representing Tenants and Landlords as they navigate real estate nuances and opportunities. I (along with my incredible team) am based in Phoenix but work around the country and internationally as … Continue reading 1-Minute Phoenix Metro Office Update: Q3 2018
One trend I actively follow is automation. In 20 years, what jobs will be done by robots? With new advancements in technology, it’s not just the routine data entry and labor jobs that are in danger anymore. Robots can now analyze emotions, perform surgical operations, even drive semi-trucks across the country. All these developments beg the … Continue reading Humans are Underrated
There is such freedom in working remotely. But, as is the case with everything, there is a dark side. People who get to work remotely have flexibility and save time from not having to commute. But are these benefits worth the stress?Remote workers also deal with the following: – Feeling disconnected from their team. And even … Continue reading Working Remotely
Technology is changing everything, from the way we eat and drive, to how we communicate and work. The “digitalization of everything” is changing how we work and therefore the skills we need to do our work. Brookings produced a study in late 2017 that is highlighted below and here is a link to the full study. Here are … Continue reading The Digitalization of Everything
In our ongoing discussion about the future of office space, here is a nice stat: In this cycle, office space users have been taking approximately ½ of the space they took as they grew in the last cycle. We know why—open office, the explosion of the tech companies and shared space environment and all the … Continue reading The “Coffice”
First, let me say, I told you so. I have been saying for some time that the huge shift to urban core will not be sustained. There are companies that want/need to have that environment so I am still bullish on urban cores, but there are others who will reverse the three-decade trend of moving offices closer and closer … Continue reading Suburban Offices are Back
The changing demographics of workers in the U.S. is HUGE and it’s changing everything. This is probably the biggest issue we are facing in office space leasing, and it features predominantly on the 2018 Counselors of Real Estate (CRE) Top 10 Issues Affecting Real Estate. Below is the release and a link to the full report. I … Continue reading 2018 Top 10 Issues Affecting Real Estate
Readers of this narrative know that I am an office broker who works every day helping Tenants and Landlords navigate the nuances and opportunities across geographical areas and product types. I (along with my incredible team) am based in Phoenix but work around the country and internationally as well. We get hired for all kinds … Continue reading 1-Minute Phoenix Metro Office Update: Q2 2018
Over the past few months, Amazon has been very public about their search for a second headquarters. (They have looked at 238 different cities.) I wanted to share a bit of this process and what it might mean to the economic development communities across the country. The Amazon announcement will play out over the next year, but the … Continue reading Amazon Headquarters Selection Process
When writing my LIFEies (my weekly blog on personal development) I get to share very complex ideas that are made simple by lots of people. Like Albert Einstein said, “The definition of genius is taking the complex and making it simple.” For this narrative, however, I focus on more complex Commercial Real Estate developments. But every … Continue reading Rules for Capital
I come from a family of educators. Both my parents were school teachers. After getting my bachelor’s degree, I felt the need to continue my education. Today I have earned my MBA and the three most prestigious designations in the Commercial Real Estate industry: CCIM, CRE, and SIOR. Andrew has earned the same three designations. … Continue reading Commercial Real Estate Designations
I have been representing tenants across the US and overseas for 34 years. As I write this narrative, I want to provide value, spot trends and get business. If you have a question or need office space, call me. We would love to work with you. One huge trend that has had a meteoric rise … Continue reading The Rise of Collaborative Workspace
In many ways, I am jaded after being in the CRE brokerage business for so long. Representing office tenants means you get to see just about everything. But I also live in an Arizona bubble most of the time. So I was SHOCKED at the amount of property taxes that the highest-taxed buildings in America … Continue reading The Highest Taxed Buildings in America
I have a great friend, Trish, who has been a mentor to me for the past 30 years. She is in the residential ownership and management business, and has been a great insight into the changes happening in that sector. Which is why I’m not surprised by the below article, and the size of the … Continue reading Meet Your New Landlord At Home
The long and stubbornly slow recovery continues. Q1 2018 numbers are out and the Metro Phoenix office market absorbed 686,469 square feet of net positive space, lowering overall vacancy to 19.39%. We are now into the 8th straight year of positive absorption in office jobs. Vacancy varies throughout the Greater Phoenix area with a high of 30.5% in the Sky Harbor … Continue reading 1-Minute Phoenix Metro Office Update: Q1 2018
I grew up 20 minutes from the Mexican border. My dad and three of my siblings still live in Sierra Vista, AZ. I know firsthand the good and bad of living next to an international border and all the issues surrounding both sides. Given the recent political turbulence surrounding globalization, NAFTA, and the United … Continue reading Growing Together
The biggest waste we consistently see is clients underutilizing their office space. Planning for growth that never occurs, thinking you “need” the space for visiting people, and making work areas and offices too big — there are multiple ways that companies waste money. Office space, and even more important facilities, can significantly reduce costs through … Continue reading Underlying Organizational Costs
What would you do if you had an unlimited budget to improve your company’s next office renovation? Below is a great article detailing what some tech giants are doing to their interior design to keep their employees happy, productive and in the office. One simple takeaway is that these companies are doing THE most innovative and comprehensive buildout you … Continue reading How Tech Office Space Sets the Bar for Everyone Else
t’s always warm in Phoenix. In the summer, we go above 110 degrees on a regular basis. On the other hand, the Phoenix office market continues to move along at a steady pace…like it’s 70 degrees. BUT, all is not lost. Many companies are beginning to realize the true cost of having all their … Continue reading Businesses are Relocating to AZ
In this narrative I talk about disruption quite a bit. My own industry, brokerage, is in the bullseye of all tech companies. Below is a Forbes article discussing how technology will do 90% of my job within a decade. Scary, right? Here are some highlights of this work: – Automation may be capable of taking … Continue reading Getting Disrupted
Positive and Steady. That’s how I would describe the Metro Phoenix Office market’s performance for 2017. The market posted its 7th straight year of positive net absorption (net gain in office jobs) finishing at 1.83 million SF. For reference, our 25-year average is 2.5 million SF, and 2016 net absorption reached 2.9 million SF. … Continue reading 1-Minute Phoenix Metro Office Update: Q4 2017
Every year we look back and reflect on the deals, relationships, and memories we made over the past 12 months. We had another excellent year in 2017, and as we look back on the numbers we’re incredibly grateful for amazing clients and friends like you. Now that we’re a few weeks into 2018, we’re excited for … Continue reading C2 By the Numbers
As the wealthiest people in the world continue to grow their wealth, they are looking more and more at Commercial Real Estate for their portfolios. We are now seeing the uber-wealthy put 6-25% of their portfolio into CRE. This is a big trend because the rich are getting richer. Here are a few stats: HNWI’s … Continue reading How High-Net Worth Investors Invest in CRE
Every year, we share the most innovative offices from around the world (and a few from our own clients). Below is our list from 2017. First, you get a few of the best clients we were fortunate enough to work with this past year. We can hold our own here in the Valley of the … Continue reading World’s Coolest Offices 2017